Klöckner & Co starts fiscal year 2022 with strong quarterly earnings

Duisburg, Germany, May 4, 2022 – Klöckner & Co increased sales due to the positive price trend by around 60% to €2.4 billion in the first quarter of 2022 (Q1 2021: €1.5 billion). Operating income (EBITDA) before material special effects, at €201 million, was very considerably higher than the prior-year figure (Q1 2021: €130 million). Including material special effects – primarily from the sale of closed sites – EBITDA came to €254 million (Q1 2021: €141 million). Net income increased to €172 million (Q1 2021: €86 million). Earnings per share consequently came to €1.68 (Q1 2021: €0.85).

Primarily driven by prices, net working capital grew relative to the 2021 year-end by €445 million to €2,258 million. This resulted in a net cash outflow from operating activities of €261 million, compared to a net cash inflow of €18 million in the prior-year quarter.

Guido Kerkhoff, CEO of Klöckner & Co SE: “We once again generated strong earnings in the first quarter of the year. At the same time, we have made great progress over the initial months of the year in the implementation of our Group strategy. With the recognition of our net zero targets by the Science Based Targets initiative (SBTi), our new green steel categorization metric and a further acceleration of our digital transformation, we have put in place the key building blocks for the years ahead to lead Klöckner & Co into a sustainable and digital future.”